KindlyMD shareholders approve the merger with Trump-associated Bitcoin (BTC) company

Source: Cointelegraph Original Text: "KindlyMD shareholders approve merger with Trump-associated Bitcoin (BTC) company"

Shareholders of medical service provider KindlyMD, Inc have approved the proposal to merge with the Bitcoin holding company Nakamoto Holdings, which was founded by David Bailey, a cryptocurrency advisor to U.S. President Trump.

KindlyMD and Nakamoto Holdings—a newly established company focused on creating a network of Bitcoin-related entities—will state in a declaration on May 20 that both parties will submit an information statement to the U.S. Securities and Exchange Commission (SEC).

The merger is expected to take place within 20 days after both companies share information statements with KindlyMD shareholders, with the transaction expected to be completed in the third quarter of 2025.

According to Google Finance, the stock price of KindlyMD (KDLY) rose by 9% to $15.22 at the close of trading on May 20, and increased by another 4.8% after the announcement of merger approval. Since the beginning of the year, KDLY's stock price has accumulated an increase of over 979%.

The two companies announced their merger for the first time on May 12, stating that the merged entity will utilize equity, debt, and other issuance methods to develop a range of Bitcoin-native companies. Additionally, the company will enhance its capital reserves by accumulating Bitcoin (BTC).

According to Bitcoin investment firm River, an increasing number of publicly traded companies are adding Bitcoin to their balance sheets, surpassing the performance of retail investors and exchange-traded funds.

Strive, founded by Vivek Ramaswamy, announced on May 20 that it plans to purchase Bitcoin claims related to the defunct cryptocurrency exchange Mt. Gox, and hopes to buy 75,000 BTC at a discounted price.

Strategy (formerly MicroStrategy) announced on May 19 that it purchased 7,390 BTC for $765 million last week. The company's executives are also facing a class-action lawsuit, accusing them of failing to accurately disclose the nature of the company's Bitcoin investments.

Earlier this month, the stablecoin issuer Tether purchased nearly $459 million worth of Bitcoin for Twenty One Capital. Twenty One Capital is a Bitcoin investment firm backed by Tether, and it is currently awaiting the completion of its merger with Cantor Equity Partners, a special purpose acquisition company (SPAC).

Related recommendations: The U.S. Securities and Exchange Commission (SEC) crypto task force will release its first report in the "coming months."